Jon Corzine has reached a settlement with the trustee for the former New Jersey governor's collapsed brokerage MF Global Holdings Ltd, as part of a series of accords expected to provide about $132 million to creditors, Reuters reported yesterday. The trustee, Nader Tavakoli, on Wednesday asked a U.S. bankruptcy judge to approve payments being made on behalf of Corzine and several other defendants, including MF Global's former Chief Operating Officer Bradley Abelow and former Chief Financial Officer Henri Steenkamp. Insurers will make payments on behalf of the defendants, who did not admit wrongdoing, the court papers show. The accord does not resolve the U.S. Commodity Futures Trading Commission's civil lawsuit against Corzine and Edith O'Brien, a former MF Global assistant treasurer, but provides a reserve to help fund their defenses.
